Our review of BubbleXT reveals why you should not trade financial markets with this broker. Avoid the extreme risk.
What is Bubblext
BubbleXT is a Forex broker that will let you trade currencies based on contracts for difference (CFD).
The company has five trading accounts for clients: Silver, Gold, Platinum, Signature and VIP. The minimum deposits are very high, it’s $10,000 for the basic Silver account and $500,000 for the VIP account.
The minimum trading size is 0.01 lots and each customer get trading signals from the broker. Higher accounts even get a “trading algorithm”, which presumably is a trading robot.
Bubblext says it is located in Zürich, Switzerland. Can you trust this Swiss broker?
Stay away from BubbleXT
Unfortunately, you can’t trust BubbleXT, because it is an illegal broker. And a very suspicious one. Here is why.
The Swiss financial sector has a great reputation in the world. One of the reasons for that is a strict financial regulation that ensures the stability of the whole sector.
Among other things it means that Forex brokers in Switzerland have to be regulated, they have to get a license to be able to operate legally.
Therefore BubbleXT needs to have a license, because it claims to be based in Zürich, Switzerland. We checked the FINMA website, which is the Swiss national financial regulator, and we found no trace of BubbleXT.
This means that BubbleXT is an illegal broker, it has not been authorized by Swiss authorities, it cannot operate in the country legally.
What’s more, we have every reason to believe that BubbleXT is not even located in Switzerland, that its address is fake. The real location of the broker remains unknown to us.
If you look at the official website of Bubblext, it looks very suspicious. A lot of important information is missing, mainly from the regulatory standpoint.
The very suspicious thing is that the broker provides a UK phone number while it claims to have offices in Switzerland. And it gives two different addresses in Zürich.
One of the reasons we are doing this BubbleXT review, is that one of our readers sent us a complaint about this broker, his withdrawal requests are denied.
This is a typical thing that happens with unregulated brokers, money gets lost, your withdrawal requests don’t go through, and the company stops communicating.
For us it is another signal that there is something wrong with Bubblext.
Protect your money
Financial trading is risky in itself, because it is not easy to predict price movements of different assets. With a bad broker you can be a good trader and lose anyway.
It is important to trade with regulated companies only, because with them you get at least some level of protection. Regulated companies are under supervision of independent authorities and in some countries your deposit is even insured against the bankruptcy of the broker.
And in case of problems you have the regulator that can help you with your complaint. Unlike with unauthorized companies.
Bubblext review – the conclusion
Bubblext is an unregulated and illegal broker. It probably is not even located in Switzerland. We recommend staying away from it.
If you want to trade financial markets, do it with regulated brokers and start on a free demo to learn with virtual money.
Remember that trading is risky, so if you want to invest real money, be prepared correctly.